A total of 46,874,998 shares went live earlier today (10 December) at a price of PLN23.00 (£4.26/€4.99/$5.62), representing an overall value of PLN1.1bn and accounting for 30% of the entire share capital in STS.
The offer values the business at PLN3.6bn, with STS chief executive and largest shareholder Mateusz Juroszek, together with his family, to retain a 70% holding in the group.
STS is primarily focused on its native Polish market but is also active elsewhere through its licences in Great Britain and Estonia.
“The first day of listing of STS Holding shares on the WSE is the culmination of many months of hard work of our entire team, together with our partners who supported us through this process,” Juroszek said.
“We welcome our diversified group of global investors and believe that we will jointly develop the group so that we not only continue to grow dynamically in Poland, but also increase further the scale of operations and brand recognition in international markets,” Juroszek added.
“We are delighted to have achieved our strategic goal of an IPO on the WSE and the strong investor demand we saw through the IPO demonstrated the quality of our business. Now we are focused on further increasing the value of the Company for all shareholders.
“Our unique business model and highly developed strategy will continue to strengthen our position as a leader in the sports betting industry.”
Original article: https://igamingbusiness.com/sts-group-shares-debut-on-warsaw-stock-exchange-as-ipo-launches/
